Future Business Leaders of America (FBLA) Marketing Practice Test

What term describes a group of similar products with slight variations to meet different market needs?

1. Product mix

2. Product line

3. Product category

4. Product range

The correct answer is: Product line

The correct term for a group of similar products that have slight variations to cater to different market needs is the product line. A product line comprises multiple products that share common characteristics or serve similar functions but differ in certain aspects such as features, sizes, colors, or other specifications. For example, a company that sells a range of shampoos may have different formulations to target specific hair types, such as oily, dry, or color-treated hair. This allows the brand to attract a versatile customer base and meet diverse consumer preferences. In contrast, a product mix refers to the total assortment of products a company offers, encompassing all product lines and categories, rather than focusing on the similarities within a specific group of products. The term product category is typically used to describe broader classifications of products within a market, which does not capture the nuance of slight variations present in a specific product line. Product range may be similar to product line but is less commonly used and might suggest a broader selection than what is typically characterized by a product line. Thus, the nuances of product line perfectly align with the scenario of meeting varying market needs through similar products.